FTX customers are getting a rare good deal. Here’s why some are still angry
CNN
People who had money in FTX at the time of its collapse nearly 18 months ago got very lucky this week, as far as bankruptcy proceedings go. But some of them are still, understandably, pretty ticked off.
People who had money in FTX at the time of its collapse nearly 18 months ago got very lucky this week, as far as bankruptcy proceedings go. But some of them are still, understandably, pretty ticked off. ICYMI: FTX, the crypto exchange that has become a byword for fraud and a black eye on the face of the entire digital asset industry, said that virtually all of the people who had money frozen on the platform will get their money back, plus interest. That is an extraordinary outcome. Creditors are rarely made whole in bankruptcy, and it often takes years to claw back whatever pennies on the dollar they’re owed. And yet, for FTX customers, there’s an unavoidable twinge of resentment over what could have been. See here: If you had one bitcoin in an FTX account in mid-November of 2022, it was worth about $17,500. Two months ago, when bitcoin hit its all-time high, it would have fetched $73,700. Today, it’d be worth more than $61,000.
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